Announced Tue, 16 Jun · 12:24 IST
Kenya branch gets PRT tax demand of ~INR 81 lakhs from Kenya Revenue Authority
Regulatory & Legal View source PDF
KPIL · price
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Price reaction · full curve 14 horizons · vs prior close
+5.3%1-day move
₹1301.10
prior close
₹1357.90
base price
In-mkt
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AI summary
Kalpataru Projects' Kenya branch office has received an assessment notice from the Kenya Revenue Authority demanding Profit Repatriation Tax (PRT), interest, and penalty for FY2024. The penalty component alone is KES 11,07,578 (~INR 80.95 lakhs). The company plans to file objections within prescribed timelines. Management has stated the demand has no significant impact on the company's financials or operations.
Likely market impact
Minor ~INR 81 lakh penalty demand from foreign tax authority; company to contest. No material impact stated.